NN Inc. Appoints New CEO and CFO
Ticker: NNBR · Form: 8-K · Filed: Jun 24, 2024 · CIK: 918541
| Field | Detail |
|---|---|
| Company | Nn INC (NNBR) |
| Form Type | 8-K |
| Filed Date | Jun 24, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.01, $230, $425,000, $60,000, $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment, management
Related Tickers: NN
TL;DR
NN Inc. finally names a CEO and CFO, ending interim roles.
AI Summary
NN, Inc. announced on June 24, 2024, the appointment of Michael J. McGarry as Chief Executive Officer, effective immediately. McGarry, who previously served as interim CEO, will also join the Board of Directors. The company also announced the appointment of Michael J. Miller as Chief Financial Officer, effective June 24, 2024.
Why It Matters
The appointment of a permanent CEO and CFO signals a new leadership direction for NN, Inc., which could impact its strategic decisions and financial performance.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and execution, impacting investor confidence.
Key Players & Entities
- NN, Inc. (company) — Registrant
- Michael J. McGarry (person) — Appointed Chief Executive Officer and Board Member
- Michael J. Miller (person) — Appointed Chief Financial Officer
- June 24, 2024 (date) — Effective date of appointments
FAQ
Who has been appointed as the new Chief Executive Officer of NN, Inc.?
Michael J. McGarry has been appointed as the new Chief Executive Officer of NN, Inc.
When did the new CEO appointment become effective?
The appointment of Michael J. McGarry as CEO became effective on June 24, 2024.
Will the new CEO also join the Board of Directors?
Yes, Michael J. McGarry will also join the Board of Directors.
Who has been appointed as the new Chief Financial Officer?
Michael J. Miller has been appointed as the new Chief Financial Officer.
What was Michael J. McGarry's previous role at NN, Inc.?
Michael J. McGarry previously served as interim CEO.
Filing Stats: 1,889 words · 8 min read · ~6 pages · Grade level 10.3 · Accepted 2024-06-24 17:28:54
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 NNBR The Nasdaq Stock Market LLC I
- $230 — ensate Mr. Felcher at an hourly rate of $230 per hour for a period of one month. The
- $425,000 — r. Bohnert's annual base salary will be $425,000, and he will be eligible to receive an
- $60,000 — ary, with a guaranteed minimum bonus of $60,000 for 2024. The Letter of Understanding a
- $0.001 — f the Company's common stock, par value $0.001 per share, over a five-year performance
Filing Documents
- d838374d8k.htm (8-K) — 39KB
- d838374dex101.htm (EX-10.1) — 22KB
- d838374dex102.htm (EX-10.2) — 22KB
- d838374dex103.htm (EX-10.3) — 46KB
- d838374dex104.htm (EX-10.4) — 55KB
- d838374dex105.htm (EX-10.5) — 80KB
- d838374dex106.htm (EX-10.6) — 42KB
- d838374dex991.htm (EX-99.1) — 11KB
- g838374g0624093934750.jpg (GRAPHIC) — 2KB
- g838374g0624101119088.jpg (GRAPHIC) — 2KB
- 0001193125-24-167079.txt ( ) — 527KB
- nnbr-20240624.xsd (EX-101.SCH) — 3KB
- nnbr-20240624_lab.xml (EX-101.LAB) — 18KB
- nnbr-20240624_pre.xml (EX-101.PRE) — 11KB
- d838374d8k_htm.xml (XML) — 4KB
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits. Exhibit No. Description of Exhibit 10.1 Consulting Agreement by and between NN, Inc. and Michael C. Felcher. 10.2 Letter of Understanding by and between NN, Inc. and Christopher H. Bohnert. 10.3 Restricted Share Award Agreement by and between NN, Inc. and Christopher H. Bohnert. 10.4 Performance Share Unit Award Agreement by and between NN, Inc. and Christopher H. Bohnert. 10.5 Separation Agreement by and between NN, Inc. and Christopher H. Bohnert. 10.6 Indemnification Agreement by and between NN, Inc. and Christopher H. Bohnert. 99.1 Press Release, dated June 24, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 24, 2024 NN, INC. By: /s/ Harold C. Bevis Name: Harold C. Bevis Title: President, Chief Executive Officer and Director